New York and Oulu-based Benjamin Capital Partners has raised $5.5 million to invest in its cash rewards business built around the Benjamin app. The seed round was co-led by Play Ventures and F4 Fund, and others angel investors.
- Founded in 2022 by Erno Tauriainen, Benjamin develops an app allowing consumers to generate cash rewards – called Benjamin Money Moments — on a broad range of everyday activities including purchases, mobile gaming, and viewing ads. Customers can earn cash rewards by completing daily tasks in mobile games.
- Since coming out of beta in October, the Benjamin app already has over 250,000 installs and 155,000 monthly active users. The company claims that many users are already earning over $100 per month; some are over $1,000 per month in earnings. Since October 2023, revenue growth are above 40%.
We are delivering audience to these game companies where they go so deep into playing their games. And they’re willing to pay a lot of money for that. We also reward these people for their everyday purchases, like when they go to Starbucks and Dunkin Donuts,
Erno Tauriainen, founder of Benjamin Capital Partners, said.
- The funding came from Play Ventures, a Singapore-based VC firm investing globally in game studios, technology, and services around games, as well as games-inspired consumer products.
- F4 Fund, a VC fund investing in products across consumer tech, communications, and interactive media, also participated in the round. Other investors include the business angel Anton Gauffin (founder of social gaming company Huuuge).
Fresh funds will help the company grow its Benjamin cash rewards app and to accelerate funding product development. The funding coincides the company’s plans to release of an enhanced version of the app as well as the hiring of Benjamin’s first CEO, Lon Otremba.
